Justin Sun Reveals $8 Million ETH Heist on Crypto Exchange HTX

Digital asset security continues to be a challenge in cryptocurrency world, and the HTX exchange was recently yet another example of this unfortunate issue. Stating this, HTX adviser Justin Sun was quick to confirm that approximately 5000 ether (ETH) valued at approximately $8 million from the exchange’s hot wallet had been stolen, although it holds assets which amount to over $3 billion worth of funds that belong to its users.

HTX acted promptly, reassuring the users that the losses would be covered fully and their funds were held safely. Sun also provided addition details – the traded sum represented about two weeks’ profits for the exchange; while this is a far lower volume from the general context, it was obviously obtrusive for the HTX platform.

For increasing the complexity, data from Arkham shows that the particular wallet which got compromised had accum loyaleely $500 million in deposits from Binance since March, thus questioning the efficiency of measures taken to handle such a colossal amount of cryptocurrency.

Robert Wilson author
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